Bank Of Baroda Announces Special Offers On Savings & Current Accounts To Celebrate Women’s Day

One of India's top public sector banks, Bank of Baroda (Bank), on the occasion of International Women's Day, announced appealing benefits and incentives for its women account holders upon opening a bob Mahila Shakti Savings Account or a bob Women Power Current Account-accounts established especially for women. Accounts established until June 30, 2024, and loan facilities used through December 31, 2024, are eligible for this offer.

A variety of exclusive benefits are now available to women only through the bob Mahila Shakti Savings Account and the bob Women Power Current Account. These benefits include a complete waiver of processing charges for retail loans, including personal loans, a 50% discount on annual safe deposit locker charges, and up to 25 basis points in interest rate concessions on retail loans (concessions of 0.25% on two-wheeler loans, 0.15% on education loans, and 0.10% on auto, home, and mortgage loans).

Shri Debadatta Chand, Managing Director & CEO, Bank of Baroda said, "Bank of Baroda has been a trusted banking partner to generations of women. On this International Women's Day, we are pleased to extend our support to women and women-led enterprises and champion their journey towards financial empowerment and independence with a range of tailored offerings that provide enhanced value."

In addition to savings, holders of the new Mahila Shakti savings account may also benefit from a free RuPay Platinum Debit Card with Personal Accident Insurance Coverage up to Rs 2 lakh, free access to domestic airport lounges twice a quarter, free SMS alerts, 30 free cheque leaves annually, and Auto Sweep facility.

A special current account designed for women entrepreneurs and businesses with women-beneficial owners is the bob Women Power current account. In addition to many other benefits, the bob Women Power current account offers women business owners additional privileges and features that will benefit their companies to flourish. These include concession in cash deposit charges, free two soundboxes with QR codes and one POS/MPOS, a collateral-free overdraft facility up to Rs. 25 lakh, free online RTGS/NEFT/IMPS/UPI, sweep services, and a lower monthly average balance requirement of just Rs. 10,000.

Benefits of bob Mahila Shakti Savings Account

• Retail loans with concessional interest rates (concession of 0.15% on education loans, 0.25% on two-wheeler loans, and 0.10% on home, auto, and mortgage loans).
• Retail loans, including personal, education, home, mortgage, auto, and two-wheeler loans, are eligible for a 100% discount on processing charges.
• 50% discount on Safe Deposit Locker charges annually.
• Free Personal Accident Insurance Coverage up to Rs 2 lakh and appealing discounts on top brands are included with the free issuing of the RuPay Platinum Debit Card.
• Complimentary entrance to the domestic airport lounge twice a quarter.
• Free 30 cheque leaves annually.
• Free SMS Alerts
• Auto Sweep Facility.

Key features of the bob Women Power Current Account

• Retail loans with concessional interest rates (concession of 0.15% on education loans, 0.25% on two-wheeler loans, and 0.10% on home, auto, and mortgage loans).
• Retail loans, including personal, education, home, mortgage, auto, and two-wheeler loans, are eligible for a 100% discount on processing fees.
• 50% waiver on Annual Safe Deposit Locker charges.
• Concession in cash deposit charges up to Rs 1,00,000/- per day subject to 10 times of monthly account balance.
• Free 2 sound box with QR code and 1 POS/MPOS.
• Collateral-free overdraft facility of up to Rs 25,00,000/-.

Tax Initiatives To Encourage Women's Participation In Female Employment

• Free RTGS/NEFT/IMPS/UPI (through online mode)
• Auto-sweep facility
• Free 50 cheque leaves
• VISA Vyapar DI Debit Card
• Lifetime Free Corporate Credit Card (subject to eligibility)
• Curated Baroda Cash Management Services & Internet Payment Gateway (IPG) facility.
• Monthly Average Balance of Rs 10,000/-.